It’s now common cause that the former Minister of Finance, Pravin Gordhan, has lost his court application against Oakbay Investments (Pty) Ltd (Oakbay) which is a holding company of the Gupta owned businesses in South Africa. Gordhan failed in his attempt to get a declaratory order from the North Gauteng High Court that it is unlawful for him as Minster if Finance to intervene in the matter of Oakbay and the four major banks (Standard Bank, ABSA, FNB and Nedbank) in which the said banks had closed the bank accounts of Oakbay. The full bench of the High Court was scathing about the abuse of the court system by Pravin Gordhan. The application was dismissed yesterday with costs.
Oakbay has pledged to use the costs it won against Pravin Gordhan to assist the Fees Must Fall process through funding needy students. This is a significant act on the part of the Gupta family. BLF welcomes this positive gesture from the Guptas. Furthermore, Black First Land First (BLF) asks the family to do more towards assisting black students who are faced with serious financial crises as they await a free decolonised education.
BLF says well done Oakbay on your victory in the court case against Pravin Gordhan and the four major banks yesterday. We also applaud the Gupta family’s decision to effectively support the Fees Must Fall process – education is a fundamental right!
Issued by the National Coordinating Committee of Black First Land First (BLF NCC)
19 August 2017
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